Bank of England has placed the Co-op Bank under “intensive supervision” as survival options appear to be running out.

March 24, 2017

Should you be worried? As a current account holder, or if you have a mortgage or loan with Co-Op bank, then you don’t need to worry as customers will be protected whatever the outcome. As a saver, you might want to take advice as the government backed ‘Financial Services Compensation Scheme’ only protects you up to 85,000.
With TSB and Secure Trust putting themselves out of the running to take over the whole bank, the options are running out and the loss making, ethical bank, may have to be rescued by the Bank of England or by a break up and partial sale. The professional investors have already seen 75% of their bond values wiped out and many expect the bank to fail. The markets are suggesting only a 25% chance of survival.

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